37 Members Of Congress Have Violated Insider Trading Law This Year - YouTube

According to new reports.

There are at least 37 members of the house and the Senate who have broken the stock act,

which is a federal law that bars members of Congress from trading stocks based on insider

knowledge, either from legislation, from upcoming contracts that they know about, basically

anything that they come across in their duties as members of Congress, that the average American

citizen would not have knowledge of not allowed to trade stocks based on that.

But more importantly, the stock act well, probably not more importantly, but either

way.

The stock act also says, anytime you trade a stock, anytime your spouse trades a stock,

anytime there was a stock trade that you financially benefit from, you have to report it immediately.

And so far this year 37 members of Congress, both Republicans and Democrats have failed

to do that.

So before we go any further let's name, some names democratic Senator Dianne Feinstein,

Republican Senator Tommy Tuberville, a Republican Senator, Roger Marshall, Senator Rand, Paul

Republican from Kentucky, a Democrat Mark Kelly from Arizona Senator, uh, Senator Cynthia

Loomis, Republican from Wyoming, a Republican representative, excuse me, democratic representative

Tom Malinowski from, uh, New Jersey Republican representative, pat Fallon, uh, representative

Diane Harshbarger Republican from Tennessee representative Katherine Clark Democrat from

Massachusetts representative Blakemore Republican from Texas Dan Crenshaw, Republican from Texas

representative Susie lead Democrat from Nevada representative, Kevin Hearn, Republican from

Oklahoma, Debbie Wasserman, Schultz Democrat from Florida, Sean Patrick Maloney Democrat

from New York, Brian mast Republican from Florida, Laurie Trey hand Democrat from Massachusetts,

John Rutherford, Republican from Florida, Kathy castor Democrat from Florida August.

Pflueger Republican from Texas cherry Buso Democrat from Illinois.

The list goes on and on.

I'm not gonna sit here and go through all of them, but anyway, the point is this, why

does this keep happening?

Why do we have so many members of Congress that don't give a that they're violating a

federal law?

Well, the answer is because usually when they get popped for this, the fine is $200, $200

or less actually.

So you can trade a bunch of stocks.

And some of these stock trades by the way, are worth hundreds of thousands of dollars

that these members of Congress have engaged in this year.

Okay.

Keep that in mind.

This is 37, just this year, 200 bucks.

So if you had to pay a fine of $200 in order to make a profit of $100,000, uh, I'd say

that's a pretty good investment.

So it kind of behooves these members of Congress to not report their

Stocks, considering that the penalty is essentially non-existent much like most of corporate America,

they just work it into the cost of doing business.

Like, yeah, I'll make a hundred thousand dollars and pay you 200 because I failed to report

it.

Oops, my bad.

And the rationale of these, uh, members of Congress is absolutely mind blowing too, because

they always try to plead ignorance according to a business insider here, they blame it

on their accountants.

They blame it on their spouses.

They blame it on clerical errors.

They blame it on a oops.

I literally just forgot whatever it is.

There's always some excuse like, oh man.

Yeah, my accountant's a complete dumb.

Totally forgot to tell me that this happened.

They shift the blame and unless the fine gets waived by the house ethics committee or the

Senate ethics committee, which by the way actually happens a lot.

The ethics committees will just say, ah, don't worry about it.

You're good to go.

You're one of us.

So we're not going to hold you accountable because at the end of the day, in spite of

all the partisan divisions in America and especially in DC Republicans versus Democrats,

the end of the day, it's one big club and we're not in it, but they are, and they're

in charge of policing one another and they're clearly doing a bang up job of that.